LIMRA: Deferred income annuities sales grow as middle-aged consumers seek more income
As an emerging market, DIAs have experienced significant growth in 2012, says Joe Montminy, assistant vice president and director of LIMRA annuity research.
Financial planning
Mass affluent open to more info on annuities, 401(k)s
Investors with $150,000 to $249,000 in income are especially receptive to learning about annuities, according to a recent Nationwide Financial survey.
Fidelity expert: More companies look to shed not just reduce retirement liability
Over the past few years its [been] closing the plan, freezing the plan — now, were actually seeing them trying to shed the liability, Fidelitys Laurie E. Vance said in Washington.
EBRI: 1 in 5 seniors outspend their income by 50% or more
Those with an income shortfall are far more likely to be low-income, low-asset households, and they spend down their liquid assets at a far faster rate than households that do not have an income shortfall, says one researcher with the Employee Benefit Research Institute.
Fidelity experts: Exchanges could be a good fit for pre-65 retirees
Even companies who have no interest in getting involved with a public health care exchange for active employees might help steer their pre-65 retirees toward the marketplace, experts with Fidelity Investments said Thursday.
Fidelity: Stock gains led to record 401(k) balances in 2012
The average U.S. balance rose 12% from 2011 to $77,300 as of Dec. 31, 2012, according to a report this month.
OneAmerica survey finds generational retirement confidence donut
Those between the ages of 40 and 50 were the most likely (25%) to say they were not confident or completely doubtful in their ability to retire and maintain their current lifestyle.
Generations X, Y uninformed about investments
More than half of U.S. Gen X and Gen Y consumers admit having little or no knowledge about investments and financial products, according to a recent LIMRA study.
By
Teck Lim
Take part in EBNs Financial Fitness Challenge
The Financial Fitness Challenge is an event-driven program that provides unbiased, online, interactive instruction in personal finance and investing fundamentals. It is designed for all employees, regardless of age, education or income.
Americans optimistic even as they struggle to save
Most (91%) are confident in their ability to manage their personal finances, according to a recent survey by Allstate, even as more than 40% are living paycheck-to-paycheck.
By
Teck Lim
Popes retirement a reality check for aging business lions
Organizations including Berkshire Hathaway, BP Capital and Viacom all have leaders near the age of the man who decided hes aging too rapidly to lead the Catholic Church. Its probably a good idea to reassess ones ability to be in positions of power at that time, says one expert.
Married baby boomers better prepared for retirement
More than eight in 10 married baby boomers (81.9%) report having retirement savings and 55.7% have gone through the process of calculating a retirement savings goal, compared with only 66.6% and 40.8%, respectively, for singles.
Is your retirement adviser failing to engage?
A new study finds that financial advisers struggle to engage investors who are retired or almost retired, and they are divided on how to generate sustainable income.
LIMRA: Gens X & Y blasé about retirement saving
How many Gen X and Gen Y consumers are saving for retirement? Not nearly enough, according to LIMRA, an industry-funded research group.
Younger investors catching up in wealth
Investors under the age of 45 account for one-third of all Americans with more than $100,000 in investable assets, up from 20% in 2010, according to Cogent Research.
UBS: Investors worry more about long-term care than retirement planning
Being able to afford health care and the support I need in my old age, had 26% of respondents highly worried, the most common response in a new survey from UBS Wealth Management Americas.
Research shows most Americans have significant financial stress
As Congress pushes the debt ceiling debate farther down the road, Americans personal finances are worse than ever. According to a new survey by the Personal Finance Employee Education Foundation, only 24% of respondents say they have little financial stress. That leaves 76% who would likely benefit from a financial education plan at work. According to PFEEF, a workplace financial fitness program can not only improve productivity, but also boost morale and company loyalty.
Want to engage in retirement planning? Watch your words
Financial planning and retirement income are both snooze-inducing phrases for potential investors, according to Russell Investments. The firm recommends talking instead about sustainable lifestyle design.
More than 25% dip into their DC plans for non-retirement spending
According to HelloWallet, more than $70 billion a year is withdrawn from 401(k)-style retirement plans, most of it used to cover basic financial needs and money management.
Prudential expert sees 2013 as boon year for retirement planning
George Castineiras, senior vice president of total retirement solutions at Prudential, says with 10,000 baby boomers turning 65 for every day for the next 16 years, its an exciting time to watch the money in motion.
